Despite reporting losses of €28.7 million, green hydrogen producer Lhyfe is gaining momentum, with expectations of significant profit growth in 2025.
“In 2024, despite a challenging market for green hydrogen in Europe, Lhyfe has demonstrated its ability to stand out by successfully driving growth and development,” said CEO Matthieu Guesné. Last year, the company quadrupled its revenue to €5.1 million, up from €1.3 million in 2023, having already doubled its sales from €0.6 million in 2022.
Lhyfe attributes this growth to full production capacity at its Bouin site and an expanding customer portfolio, bolstered by new contracts for green hydrogen supply. In 2024, the company made over 470 deliveries, primarily in France and Germany. The Bouin site’s capacity is set to increase to 2.5 MW, while additional production sites in France (Buléon, Bessières, Croixrault, and Le Cheylas) and Germany will further support its expansion.
To reassure customers about its long-term business model, Lhyfe highlights a project pipeline of 9.1 GW by the end of 2024. It has also secured €242 million in subsidies and holds €72 million in cash reserves.
Looking ahead to 2025, the company anticipates substantial revenue growth, projecting hydrogen sales to double or even triple compared to 2024. “Lhyfe is now positioned as a key player for green hydrogen consumers in Europe,” said Guesné.
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